{"summary":{"version":"summary-v1","lines":[{"dimension":"build","label":"Build","tag":"DERIVED","text":"Dormant: 0 counted ships in 30 days; no meaningful ship recorded yet.","evidence":[],"basis":"rule_output","detailUrl":"https://heyresearch.xyz/api/projects/neutral-trade/timeline","freshness":"fresh","answer":"Dormant"},{"dimension":"usage","label":"Product usage","tag":"FACT","text":"No contract is recorded for this project, so there is no on-chain usage to count.","evidence":[],"basis":"coverage_state","detailUrl":"https://heyresearch.xyz/api/projects/neutral-trade/usage","freshness":"not_applicable","reason":"no_contract"},{"dimension":"market","label":"Market","tag":"FACT","text":"No token recorded: this is a project, not a token.","evidence":[],"basis":"registry_record","detailUrl":"https://heyresearch.xyz/api/projects/neutral-trade/market","freshness":"not_applicable","reason":"no_token"},{"dimension":"fundamentals","label":"Fundamentals","tag":"FACT","text":"Neutral Trade: TVL $1.7M · fees 24h not tracked · revenue 24h not tracked (DefiLlama, 2026-11-01). Registry context, not a measure of building.","evidence":[],"basis":"canonical_read","detailUrl":"https://heyresearch.xyz/api/projects/neutral-trade/snapshot","observedAt":"2026-11-01T00:00:00.000Z","freshness":"fresh"},{"dimension":"latestChange","label":"Latest change","tag":"FACT","text":"Today: Links the official site declares changed: 2 added, 2 removed. Added docs link: docs.neutral.trade/for-capital-allocators/neutral-curated; docs link: docs.neutral.trade/for-capital-allocators/neutral-marketplace. Removed docs link: docs.neutral.trade/for-capital-allocators/usdc-yield/market-neutral/delta-neutr…; docs link: docs.neutral.trade/for-capital-allocators/usdc-yield/market-neutral/mid-frequen….","evidence":[{"id":"sourcechange:5641074e-53be-4f89-8647-cf06662c6806","label":"Official site","url":"https://docs.neutral.trade/for-capital-allocators/market-neutral/delta-neutral-arbitrage","receiptUrl":"https://heyresearch.xyz/api/evidence/sourcechange%3A5641074e-53be-4f89-8647-cf06662c6806"}],"basis":"evidence_record","detailUrl":"https://heyresearch.xyz/api/changes?project=neutral-trade","observedAt":"2026-11-01T01:16:57.359Z","freshness":"fresh","change":{"version":"change-explain-v1","eventId":"sourcechange:5641074e-53be-4f89-8647-cf06662c6806","type":"research.source_changed","evidenceId":"sourcechange:5641074e-53be-4f89-8647-cf06662c6806","what":"Links the official site declares changed: 2 added, 2 removed. Added docs link: docs.neutral.trade/for-capital-allocators/neutral-curated; docs link: docs.neutral.trade/for-capital-allocators/neutral-marketplace. Removed docs link: docs.neutral.trade/for-capital-allocators/usdc-yield/market-neutral/delta-neutr…; docs link: docs.neutral.trade/for-capital-allocators/usdc-yield/market-neutral/mid-frequen…","headline":"Official site change, on the project’s own site · not an implementation HEY has seen","capability":{"named":"Links the official site declares changed: 2 added, 2 removed. Added docs link: docs.neutral.trade/for-capital-allocators/neutral-curated; docs link: docs.neutral.trade/for-capital-allocators/neutral-marketplace. Removed docs link: docs.neutral.trade/for-capital-allocators/usdc-yield/market-neutral/delta-neutr…; docs link: docs.neutral.trade/for-capital-allocators/usdc-yield/market-neutral/mid-frequen…","basis":"site_text","text":"Links the official site declares changed: 2 added, 2 removed. Added docs link: docs.neutral.trade/for-capital-allocators/neutral-curated; docs link: docs.neutral.trade/for-capital-allocators/neutral-marketplace. Removed docs link: docs.neutral.trade/for-capital-allocators/usdc-yield/market-neutral/delta-neutr…; docs link: docs.neutral.trade/for-capital-allocators/usdc-yield/market-neutral/mid-frequen…."},"stage":{"observed":"site_change","basis":"ledger_type","notObserved":["code","release","deployment"],"text":"A change to what the site says is not an implementation: HEY has not observed code, a release or a deployment for it."},"reportedBy":{"kind":"team_source","text":"On the project’s own site."},"corroboration":{"state":"not_corroborated","by":[],"text":"Reported in the team’s own source. No independent record HEY holds corroborates it."},"releaseDeployment":{"state":"not_applicable","contracts":[],"evidence":[],"text":"Not a release or a deployment."},"activity":{"ownFunctionCalls":null,"tokenStandardCalls":null,"success":"not_measured","state":"NOT_APPLICABLE","scope":"none","window":null,"text":"No contract is tied to this change, so no product activity is attributed to it. Product usage is read on its own."},"time":{"occurredAt":null,"precision":"OBSERVED","detectedAt":"2026-11-01T01:16:57.359Z","recordedAt":"2026-11-01T01:20:02.584Z","origin":"live","basis":"observed_by_hey","lateIndexed":false,"text":"No source dates it: HEY first saw it on 2026-11-01."},"standing":{"state":"standing","withdrawnEvidence":[]},"evidence":[{"id":"sourcechange:5641074e-53be-4f89-8647-cf06662c6806","receiptUrl":"https://heyresearch.xyz/api/evidence/sourcechange%3A5641074e-53be-4f89-8647-cf06662c6806"}],"unknowns":[{"code":"deployment_not_observed","text":"HEY has not observed a deployment of this change."},{"code":"occurred_at_unknown","text":"No source dates it; when it happened is not known."}],"limit":"It says what HEY read in a public source. A source on record does not prove who runs the project.","explainUrl":"https://heyresearch.xyz/api/projects/neutral-trade/explain?fact=build.change&event=sourcechange%3A5641074e-53be-4f89-8647-cf06662c6806"}},{"dimension":"unknown","label":"Not yet known","tag":"UNKNOWN","text":"4 gaps: Repositories (no source), Published packages (no source), API description (no source), +1 more. No repository the project claims as its own.","evidence":[],"basis":"coverage_state","detailUrl":"https://heyresearch.xyz/api/projects/neutral-trade/coverage","freshness":"unknown","reason":"no_repository"}],"computedAt":"2026-11-01T07:31:49.160Z"},"identity":{"slug":"neutral-trade","name":"Neutral Trade","projectKind":"OTHER","researchLevel":"RESEARCHED","catalogStatus":"QUALIFIED","websiteUrl":"https://www.neutral.trade/","officialX":{"handle":"TradeNeutral","url":"https://x.com/TradeNeutral","status":"ACTIVE","checkedAt":"2026-11-01T02:20:33.936Z","linkHeld":null,"corroboration":"mutual_site_link","corroborationCheckedAt":"2026-11-01T02:20:33.936Z","foundByHey":false},"firstRecordedByHeyAt":"2026-09-17T00:09:30.411Z","externalListedAt":"2024-12-23T16:59:37.000Z","externalListedSource":"defillama","url":"https://heyresearch.xyz/project/neutral-trade"},"build":{"activityStatus":"DORMANT","activityMeasured":true,"buildMomentum":0,"stillBuilding":false,"stillBuildingState":"NOT_MEASURED","stillBuildingWithheld":"no_token","discoveryGapWithheld":"no_token","underTheRadar":{"state":"NOT_MEASURED","reason":"no_token","explainUrl":"https://heyresearch.xyz/api/projects/neutral-trade/explain?fact=discovery_gap"},"velocity":{"state":"NEW","current":0,"previous":null,"windowDays":30},"cadence":{"state":"INSUFFICIENT_RELEASES"},"hasBuilderSource":true},"protocolEconomics":{"protocols":[{"protocol":"neutral-trade","protocolName":"Neutral Trade","category":"Onchain Capital Allocator","tvlUsd":1653000.01955,"tvlDay":"2026-11-01","matchedBy":"listing","fees24h":{"state":"NOT_TRACKED"},"revenue24h":{"state":"NOT_TRACKED"},"dexVolume24h":{"state":"NOT_TRACKED"},"economicsDay":"2026-11-01","auditLinks":[],"methodologyUrl":"https://github.com/DefiLlama/DefiLlama-Adapters/blob/main/projects/neutral-trade/index.js"}],"source":"defillama","contextOnly":true},"developerFootprint":{"repositories":{"state":"NO_SOURCE","reason":"no_repository","official":0,"metadataRead":0},"productionDeployment":{"state":"NOT_APPLICABLE"},"packages":{"state":"NO_SOURCE","reason":"no_repository"},"advisories":{"state":"NOT_APPLICABLE","reason":"no_accepted_package","subject":"PUBLISHED_PACKAGE"},"contextOnly":true,"coverageUrl":"https://heyresearch.xyz/api/projects/neutral-trade/coverage"},"usage":{"dimension":"usage","state":"NOT_APPLICABLE","reason":"no_contract","source":"decoded_calls","window":{"from":"2026-10-25","to":"2026-10-31","days":7},"watchedContracts":0,"topMethods":[],"names":"WITHHELD","methodEvents":null,"contextOnly":true,"url":"https://heyresearch.xyz/api/projects/neutral-trade/usage"},"security":{"audits":{"state":"NONE_FOUND","readFrom":["official_site","official_site_files","defillama"],"readAt":"2026-11-01T01:16:57.359Z"},"bugBounty":{"state":"NONE_FOUND","readFrom":["official_site","official_site_files"],"readAt":"2026-11-01T01:16:57.359Z"},"securityTxt":{"state":"NONE_FOUND","url":"https://neutral.trade/.well-known/security.txt","readAt":"2026-10-26T02:08:59.079Z","reason":"absent"},"advisories":{"state":"NOT_APPLICABLE","reason":"no_accepted_package"},"repositoryChecks":{"state":"NOT_APPLICABLE","reason":"no_official_repository"},"incidents":{"state":"NOT_READ","reason":"no_incident_source_read"},"linksOmitted":0,"meaning":"An audit shows an audit took place; it is not a guarantee of safety.","contextOnly":true},"peerContext":{"rulesVersion":"peers-v2","state":"NO_COHORT","reason":"no_primary_narrative","computedAt":"2026-11-01T02:03:37.634Z","freshness":{"state":"CURRENT","asOf":"2026-11-01T02:03:37.634Z","staleAfterHours":36},"cohort":null,"minimums":{"median":8,"percentile":20},"dimensions":[],"methodology":"https://heyresearch.xyz/methodology#peers"},"contracts":{"url":"https://heyresearch.xyz/api/projects/neutral-trade/contracts"},"verification":{"ownerVerified":false,"submitted":false,"sources":{"total":38,"own":38,"verified":0,"contextOnly":0}},"locks":{"coverage":{"state":"NOT_APPLICABLE","reason":"no_token"}},"integrity":{"state":"NOT_APPLICABLE","reason":"no_token"},"latestChanges":{"available":true,"items":[{"id":"sourcechange:5641074e-53be-4f89-8647-cf06662c6806","revision":1,"op":"upsert","type":"research.source_changed","domain":"research","occurredAt":null,"precision":"OBSERVED","detectedAt":"2026-11-01T01:16:57.359Z","recordedAt":"2026-11-01T01:20:02.584Z","summary":"Links the official site declares changed: 2 added, 2 removed. Added docs link: docs.neutral.trade/for-capital-allocators/neutral-curated; docs link: docs.neutral.trade/for-capital-allocators/neutral-marketplace. Removed docs link: docs.neutral.trade/for-capital-allocators/usdc-yield/market-neutral/delta-neutr…; docs link: docs.neutral.trade/for-capital-allocators/usdc-yield/market-neutral/mid-frequen…","evidence":[{"id":"sourcechange:5641074e-53be-4f89-8647-cf06662c6806","label":"Official site","url":"https://docs.neutral.trade/for-capital-allocators/market-neutral/delta-neutral-arbitrage"}],"source":"official_site"},{"id":"sourcechange:cb31c2c7-028e-4dce-80a3-faecdbe2ae47","revision":1,"op":"upsert","type":"research.source_changed","domain":"research","occurredAt":null,"precision":"OBSERVED","detectedAt":"2026-11-01T01:14:12.337Z","recordedAt":"2026-11-01T01:15:02.437Z","summary":"Links the official site declares changed: 2 added, 2 removed. Added docs link: docs.neutral.trade/for-capital-allocators/neutral-curated; docs link: docs.neutral.trade/for-capital-allocators/neutral-marketplace. Removed docs link: docs.neutral.trade/for-capital-allocators/usdc-yield/directional; docs link: docs.neutral.trade/for-capital-allocators/usdc-yield/directional/cta-adaptive-a…","evidence":[{"id":"sourcechange:cb31c2c7-028e-4dce-80a3-faecdbe2ae47","label":"Official site","url":"https://docs.neutral.trade/for-capital-allocators/directional/systematic-alpha"}],"source":"official_site"},{"id":"sourcechange:6ddbe0f7-2316-4002-ae1c-0fbcc611d4a1","revision":1,"op":"upsert","type":"research.source_changed","domain":"research","occurredAt":null,"precision":"OBSERVED","detectedAt":"2026-11-01T01:09:47.241Z","recordedAt":"2026-11-01T01:10:02.452Z","summary":"Links the official site declares changed: 2 added, 2 removed. Added docs link: docs.neutral.trade/for-capital-allocators/neutral-curated; docs link: docs.neutral.trade/for-capital-allocators/neutral-marketplace. Removed docs link: docs.neutral.trade/for-capital-allocators/usdc-yield/market-neutral/delta-neutr…; docs link: docs.neutral.trade/for-capital-allocators/usdc-yield/market-neutral/mid-frequen…","evidence":[{"id":"sourcechange:6ddbe0f7-2316-4002-ae1c-0fbcc611d4a1","label":"Official site","url":"https://docs.neutral.trade/for-capital-allocators/market-neutral/hyperliquid-funding-arb"}],"source":"official_site"},{"id":"sourcechange:ec5db75f-f9f4-4b00-ac94-3a7c8906c445","revision":1,"op":"upsert","type":"research.source_changed","domain":"research","occurredAt":null,"precision":"OBSERVED","detectedAt":"2026-11-01T00:58:41.874Z","recordedAt":"2026-11-01T01:00:01.974Z","summary":"Links the official site declares changed: 2 added, 2 removed. Added docs link: docs.neutral.trade/for-capital-allocators/neutral-curated; docs link: docs.neutral.trade/for-capital-allocators/neutral-marketplace. Removed docs link: docs.neutral.trade/for-capital-allocators/usdc-yield/directional; docs link: docs.neutral.trade/for-capital-allocators/usdc-yield/directional/cta-adaptive-a…","evidence":[{"id":"sourcechange:ec5db75f-f9f4-4b00-ac94-3a7c8906c445","label":"Official site","url":"https://docs.neutral.trade/for-capital-allocators/directional/cta-adaptive-alpha"}],"source":"official_site"},{"id":"sourcechange:7164ceda-b20e-4bb9-bd09-1cd15f10c359","revision":1,"op":"upsert","type":"research.source_changed","domain":"research","occurredAt":null,"precision":"OBSERVED","detectedAt":"2026-11-01T00:57:26.870Z","recordedAt":"2026-11-01T01:00:01.974Z","summary":"Links the official site declares changed: 2 added, 2 removed. Added docs link: docs.neutral.trade/for-capital-allocators/neutral-curated; docs link: docs.neutral.trade/for-capital-allocators/neutral-marketplace. Removed docs link: docs.neutral.trade/for-capital-allocators/usdc-yield/market-neutral/delta-neutr…; docs link: docs.neutral.trade/for-capital-allocators/usdc-yield/market-neutral/mid-frequen…","evidence":[{"id":"sourcechange:7164ceda-b20e-4bb9-bd09-1cd15f10c359","label":"Official site","url":"https://docs.neutral.trade/for-capital-allocators/market-neutral"}],"source":"official_site"}],"url":"https://heyresearch.xyz/api/changes?project=neutral-trade"},"freshness":[{"source":"code","label":"Code","state":"fresh","observedAt":"2026-11-01T02:34:28.150Z","staleAfterHours":108},{"source":"score","label":"Scores","state":"fresh","observedAt":"2026-11-01T04:44:59.472Z","staleAfterHours":24}],"coverage":{"identity":{"state":"MEASURED","since":"2026-09-17T00:09:30.411Z","asOf":"2026-09-17T00:09:28.569Z","reason":"research_level_researched","detailUrl":"https://heyresearch.xyz/api/projects/neutral-trade"},"builderEvidence":{"state":"MEASURED","asOf":"2026-11-01T02:34:28.150Z","reason":"activity_dormant"},"repositories":{"state":"NO_SOURCE","reason":"no_repository"},"releases":{"state":"MEASURED","reason":"no_release_recorded","detailUrl":"https://heyresearch.xyz/api/ships?project=neutral-trade"},"marketCurrent":{"state":"NOT_APPLICABLE","reason":"no_token"},"marketHistory":{"state":"NOT_APPLICABLE","reason":"no_token"},"contractDeployment":{"state":"NOT_APPLICABLE","reason":"no_token"},"contractActivity":{"state":"NOT_APPLICABLE","reason":"no_token"},"contractSource":{"state":"NOT_APPLICABLE","reason":"no_token"},"contractInterface":{"state":"NOT_APPLICABLE","reason":"no_token"},"distribution":{"state":"NOT_APPLICABLE","reason":"no_token"},"locks":{"state":"NOT_APPLICABLE","reason":"no_token"},"marketIntegrity":{"state":"NOT_APPLICABLE","reason":"no_token"},"protocolEconomics":{"state":"NO_SOURCE","since":"2026-09-26T00:00:00.000Z","asOf":"2026-11-01T00:00:00.000Z","reason":"not_tracked_by_registry"},"timeline":{"state":"MEASURED","since":"2026-09-17T00:09:30.411Z","reason":"complete_default_window","detailUrl":"https://heyresearch.xyz/api/projects/neutral-trade/timeline"},"officialDocs":{"state":"MEASURED","asOf":"2026-11-01T01:16:57.359Z","reason":"official_docs","detailUrl":"https://heyresearch.xyz/api/projects/neutral-trade"},"apiDocs":{"state":"NO_SOURCE","asOf":"2026-10-26T02:08:59.079Z","reason":"no_api_description_linked"},"sourceChanges":{"state":"MEASURED","since":"2026-10-26T02:08:59.079Z","asOf":"2026-10-26T02:08:59.079Z","reason":"changes_since_first_read"},"gitHost":{"state":"NOT_APPLICABLE","reason":"no_repository"},"package":{"state":"NO_SOURCE","reason":"no_repository"},"securityContext":{"state":"NOT_APPLICABLE","reason":"no_accepted_package"}},"evidenceSummary":{"sources":{"total":38,"own":38,"verified":0,"contextOnly":0},"meaningfulEvents30d":0,"explainUrl":"https://heyresearch.xyz/api/projects/neutral-trade/explain"},"links":{"page":"https://heyresearch.xyz/project/neutral-trade","detail":"https://heyresearch.xyz/api/projects/neutral-trade","timeline":"https://heyresearch.xyz/api/projects/neutral-trade/timeline","intelligence":"https://heyresearch.xyz/api/projects/neutral-trade/intelligence","changes":"https://heyresearch.xyz/api/changes?project=neutral-trade","coverage":"https://heyresearch.xyz/api/projects/neutral-trade/coverage","explain":"https://heyresearch.xyz/api/projects/neutral-trade/explain","contracts":"https://heyresearch.xyz/api/projects/neutral-trade/contracts","usage":"https://heyresearch.xyz/api/projects/neutral-trade/usage","relationships":"https://heyresearch.xyz/api/projects/neutral-trade/relationships"},"asOf":"2026-11-01T07:31:49.160Z","scoringVersion":"hbm-v32","disclaimer":"Public, source-backed activity HEY recorded. Still Building means counted ships during a market drawdown HEY itself tracked — it is not a prediction, not a ranking by price, and not investment advice. Few projects meet Still Building or Under the Radar at any time; both are strict by design, and list responses carry the counts."}